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CAKE BEAUTY ACQUIRED BY MARC ANTHONY COSMETICS

February 20, 2018
February 20, 2018
Cake Beauty

Canada’s largest independent hair care brand, Marc Anthony Cosmetics Ltd., is expanding its beauty business by acquiring iconic Toronto-based Cake Beauty.

WHO: Toronto-based Cake Beauty was founded in 2003 by CEO Heather Reier. Achieving cult status over the last 15 years, Cake has secured its foothold in the Canadian market as a pioneer in crossing high-performing, naturally driven formulations with playful indulgence, and has won the love of editors, influencers, and customers alike with products that are 100 percent vegan and cruelty-free. Cake Beauty creates with heart, thinks beyond the pink, and designs award-winning, cruelty-free, and vegan products that women love to use every day.

Marc Anthony founded the Marc Anthony Cosmetics Ltd business in 1995. For over 20 years, the Marc Anthony Salons and its acclaimed team of Pro Stylists have styled influencers, from music icons to red-carpet A-listers, around the globe. The brand identity is based on salon-created, salon-approved quality hair care products at an affordable price distributed in over 25 countries.

WHY: The acquisition of Cake Beauty is part of Marc Anthony’s strategy to expand its portfolio of brands, further establish itself as a leader in the Canadian beauty market across price points, and support its global growth.

IN THEIR OWN WORDS: “I am beyond excited that Cake Beauty has become part of the Marc Anthony family. The customer-centric approach to beauty that we both share makes this the perfect addition to the Marc Anthony portfolio of brands,” says Marc Anthony, Founder and CEO. “I look forward to collaborating creatively with Heather and the Cake team and introducing this innovative, high-quality brand to our global customers.”

“Building Cake from the little company started in a kitchen to the beloved brand it is today has been the ride of a lifetime—and the natural next step for Cake is international expansion,” says Founder, Heather Reier. “In Marc and his team, I have found like-minded partners to build on what we’ve accomplished and look forward to bringing the brand to customers worldwide. I’m so pleased to be working with them and thrilled to start this journey as one team.”

DETAILS:

  • No financial terms were released.
  • According to GCI, Cake Beauty is currently among Shoppers Drug Mart’s top-selling brands.
  • Marc Anthony is a portfolio company of US private equity firm TA Associates, which invested in the business in 2016.
  • Marc Anthony will take over management of Cake’s global sales team, retailer relationships, and global operation model.
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